STOCKS UP – STOCKS DOWN – WHERE NOW?
The Dow Jones Industrial Index is show for the last 3 years in the above chart. The chart confirmed a down trend at the end of 2015 as the index made a lower high around 18,000. There is buying support at the 15,500 level. Assuming there is no major surprise event, we can expect one or two more cycles within the 15,500 and 17,500 range in the DJI index.
The 100 to 300 point daily swings are insignificant at this point.
John Boyd, CFP